Mariah – Schurr High School

Vote for Mariah

Some people might say that teenagers are the most careless with their money. This might be true for some teens but it sure doesn’t apply to me. Many teen just want to spend money on nonessential items like expensive iPhones, laptops, clothing, etc. But in reality they don’t really need these items. These items will only last them so long. I find it more important that teens, worry less on getting the latest trend, and instead focus on saving that money. I feel that society, especially teens worry too much about their appearance so they can fit in, and most of those items that make people “cool” are expensive. ¬†Instead of trying to fit in, we should just be ourselves.

As I mentioned earlier, teens or young adults can save money by buying only essential items, become more aware of the long term goals they have, and take little steps at a time. To become a better saver, teens can stop spending so much money on expensive items and save that money for something more important like college or even retirement. When young adults hear retirement, they think they don’t need to worry about that because they are so young, but it is better to think about it and prepare then be unprepared when they are closer to the retirement age. They need to be aware that the years of their lives will fly right pass them, and all of a sudden they will be old and won’t know what to do with their financial problems. I am a strong believer that early preparation will always be an advantage in the future. I know if they start thinking about their future goals, they will realize that they need to start preparing. They should start saving little amounts at a time. Since they have the most time before they actually retire, they can start small. I think a perfect way to assured efficient money for retirement is to open a savings account with at least fifty dollars and every month add fifteen to twenty dollars. Doing this for¬†several months, will assure that you will always have a decent amount of money in that account. Although it might be tempting to use the money, they need to be discipline and understand that money can’t be touched because it is for their savings and it will help them in the future.

Seeing my parents struggling financially, I have convinced myself that I want to prepare as early as possible so I won’t have to go through the same struggles my parents go through every month. I have come up with a five year plan. This starts off with me getting a job. Once I have gotten a job, I will open a checking account and put fifteen percent of my check into a savings account every month. I feel if I do this for long enough, I will have saved a sufficient amount of money that I can use during retirement. I will also stop buying things that are not necessary. I will only buy things that are needed, and maybe once in a while treat myself. In my perspective, I think if I save enough during a sufficient amount of time, I will be set for retirement, but I need to begin by getting a job so I have some sort of income. I feel that I am self-discipline and I will be able to not tempt myself with over spending. I love saving money, and I feel that I will be a good saver both now and in the future. Something that I have been recently doing is putting a dollar in my piggy bank every day, so by the end of the year, I should have $365 and I plan on doing this until I go to college. So hopefully I will have a decent amount of money for college expenses. I think it is important to start off little by little. Every day I can spare a dollar, so I have begun saving the little that I have. I feel that I will do the same for retirement once I have a stable income. I am a bit excited for retirement because I am sure that I will be successful in saving because I feel that I will follow my plan. When I create a plan I am committed, and persistent to continue until I have successfully finished.